AZIM PREMJI TRUSTEE COMPANY PVT LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

In the result, I pass the following:-

Bench: The Hon'Ble Mr.Justice S.R.Krishna Kumar

depreciation allowance or any other allowance or deduction for such assessment year (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year). Explanation.—For the purposes of assessment or reassessment or recomputation under this section, the Assessing Officer may assess or reassess the income in respect of any issue, which has escaped assessment

THE COMMISSIONER OF INCOME-TAX vs. M/S AGRICULTURAL PRODUCE MARKET COMMITTEE

Bench: S.SUJATHA,VINEET KOTHARI

56 to 59. Section 57 provides for deduction allowable in computing income under other sources. Clause (ii) of section 57 provides for depreciation

THE PR.COMMISSIONER OF INCOME TAX, CIT (A) vs. M/S AGRICULTURAL PRODUCE MARKET COMMITTEE

Bench: S.SUJATHA,VINEET KOTHARI

56 to 59. Section 57 provides for deduction allowable in computing income under other sources. Clause (ii) of section 57 provides for depreciation

THE COMMISSIONER OF INCOME-TAX vs. M/S HEWLETT PACKARD INDIA SALES PVT LTD

In the result, we do not find any merit in this

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

depreciation under Section 32(1)(ii) of the Act in respect of intangible assets of Rs.9,07,25,000/- when the same is not identical, and is based on adhoc estimate basis and not on actual cost as per Section 3 43(1) of the Act? 2. Facts leading to filing of this appeal briefly stated are that the assessee

M/S T T K PRESTIGE LTD vs. THE DEPUTY COMMISSIONER OF INCOME TAX

Bench: The Hon’Ble Mrs.Justice S.Sujatha

Section 114[e] of the Indian Evidence Act, 1872. Merely if the assessment order is silent or does not record the reasons, would not lead to the conclusion of non - 56 - application of mind by the AO. On the contrary, it is a presumption that the AO has applied his mind to all the material facts available at the time

PR. COMMISSIONER OF INCOME TAX vs. M/S SASKEN

Appeals are dismissed at the stage of admission

Bench: ABHAY SHREENIWAS OKA (CJ),S.G.PANDIT

depreciation etc. commencing from the year 2001-02 on completion of the period of tax holiday also virtually works as a deduction which has to be worked out at a future point of time, namely, after the expiry of period of tax holiday. The absence of any reference to deduction under Section 10A in Chapter

THE STATE OF KARNATAKA THROUGH THE SECRETARY vs. M/S KARDICOPPAL ESTATE THITHIMATHI

Appeals are allowed to the aforesaid extent

Bench: JAYANT PATEL,B.SREENIVASE GOWDA

depreciation allowance is also to be carried forward under 15 proviso (2) to clause (e) of section 5, effect shall first be given to the provisions of this Section.” 10. Subject amendment is shown in block words which pertains for regulating the right of set off of two ways, by way of the verification in the prescribed manner

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

depreciation has to be allowed, which has been rightly done so by the Tribunal. Substantial question of law No.1 is accordingly answered in favour of the assessee. 17. As far as the second question of law is concerned, the same relates to payment of interest of Rs.72.00 lakh on borrowed capital, as an allowable business expenditure. The contention

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

depreciation has to be allowed, which has been rightly done so by the Tribunal. Substantial question of law No.1 is accordingly answered in favour of the assessee. 17. As far as the second question of law is concerned, the same relates to payment of interest of Rs.72.00 lakh on borrowed capital, as an allowable business expenditure. The contention

THE COMMISIONER OF INCOME-TAX vs. M/S IBC KNOWLEDGE PARK PVT LTD

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

depreciation has to be allowed, which has been rightly done so by the Tribunal. Substantial question of law No.1 is accordingly answered in favour of the assessee. 17. As far as the second question of law is concerned, the same relates to payment of interest of Rs.72.00 lakh on borrowed capital, as an allowable business expenditure. The contention

DELL INDIA PVT LTD vs. THE JOINT COMMISSIONER OF INCOME TAX

Bench: The Hon’Ble Mr.Justice Aravind Kumar

56,399/-. Under section 143(3) of the Act assessment was taken up and after the details called for by the Assessing officer and same being produced a draft assessment order came to be passed on 28.03.2013 proposing to make several additions to the income of the petitioner. Petitioner filed its objections to draft assessment order before Dispute Resolution Panel

THE COMMISSIONER OF INCOME TAX vs. M/S WIPRO LTD

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

Section 145A of the Income- tax Act which was inserted with effect from assessment year 1999-2000. The said provision states that the valuation of stock should include the amount of any tax duty, cess or fee - 94 - actually paid or incurred to bring the goods to its present location and condition. The Department has followed a consistent stand

M/S WIPRO LIMITED vs. THE DEPUTY COMMISSIONER OF INCOME TAX

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

Section 145A of the Income- tax Act which was inserted with effect from assessment year 1999-2000. The said provision states that the valuation of stock should include the amount of any tax duty, cess or fee - 94 - actually paid or incurred to bring the goods to its present location and condition. The Department has followed a consistent stand

M/S NANDI STEELS LIMITED vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

In the result, the findings

Bench: ALOK ARADHE,R. NATARAJ

depreciation is claimed under clause (i) of sub-section (1) of section 32; and (c) which was or has been used for the purposes of business, is sold, discarded, demolished or destroyed and the moneys payable in respect of such building, machinery, plant or furniture, as the case may be, together with 16 the amount of scrap value

THE COMMISSINER OF INCOME -TAX, vs. M/S CANARA BANK

In the result, we do not find any merit in this

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 132 of the Act by the Department in March 1998 in the premises of Rajender Group and in September 1996 in Kedia Group of Companies. The assessee thereupon filed appeal before the Commissioner of Income Tax (Appeals) for the Assessment Years 1999-2000. The aforesaid appeal was dismissed vide order dated 03.11.2004. The assessee thereupon approached the Income

PR COMMISSIONER OF vs. M/S GMR HYDERABAD

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

depreciation on capitalization of expenditure incurred during the assessment year 2007-08 and 2008-09? 2. Whether on the facts and in the circumstances of the case and in law, the Tribunal is right in law in restoring the file to assessing authority as for disallowance made by assessing authority in respect of Section 14A read with Rule

PR COMMISSIONER OF vs. M/S GMR HYDERABAD

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

depreciation on capitalization of expenditure incurred during the assessment year 2007-08 and 2008-09? 2. Whether on the facts and in the circumstances of the case and in law, the Tribunal is right in law in restoring the file to assessing authority as for disallowance made by assessing authority in respect of Section 14A read with Rule

THE PR. COMMISIONER OF INCOME TAX vs. M/S. GMR INFRASTRUCTURE LTD

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

depreciation on capitalization of expenditure incurred during the assessment year 2007-08 and 2008-09? 2. Whether on the facts and in the circumstances of the case and in law, the Tribunal is right in law in restoring the file to assessing authority as for disallowance made by assessing authority in respect of Section 14A read with Rule